Mechel Announces Results of Its Annual General Shareholders' Meeting

Mechel Announces Results of Its Annual General Shareholders' Meeting

MOSCOW, June 28, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL), one of the
leading Russian mining and metals companies, announces that its Annual General
Shareholders' Meeting was held on June 28, 2012.

The following key resolutions were adopted by shareholders at the meeting:

  *To pay no dividends on ordinary shares.
  *To pay a dividend of 0.05 rubles per one preferred share (approximately
    $0.002 per one preferred share and approximately $0.001 per one preferred
    ADR*). The payment is due to be made by bank transfer in less than 60 days
    since the decision to pay was made.
  *To allocate profit from past years as follows:
    - dividend payment of placed Company's preferred shares – 6,937,845.75
    rubles (about $221,969.16*)
    - remaining profit of 19,174,169,396.24 rubles (about $613,476,796.26 *)
    leave undistributed.
  *To elect the following people to Mechel's Board of Directors:

1.Arthur David Johnson;
2.Vladimir Gusev;
3.Igor Zyuzin;
4.Igor Kozhukhovsky;
5.Yuri Malyshev
6.Yevgeny Mikhel;
7.Roger Ian Gale;
8.Viktor Trigubko;
9.Alexei Ivanushkin.

The number of the Board's members remained the same as last year. Yuri
Malyshev replaced Alexander Yevtushenko and Alexei Ivanushkin replaced
Valentin Proskurnya as members of the Board of Directors.

  *To approve the Company's Annual Report for 2012.
  *To approve the Company's Annual Financial Statements inclusive of the
    Income Statement (Profit and Loss Accounts) for 2012.
  *To elect the following people to Mechel OAO's audit committee:

1.Andrey Stepanov;
2.Evgeny Yaminsky;
3.Alexei Vlasenko.

  *To appoint Energy Consulting/Audit ZAO as the auditor of Mechel OAO
    (Moscow).
  *To approve the revised Bylaw on rewards to the members of Mechel OAO's
    Board of Directors and compensation of expenses incurred by them while
    performing the functions of members of the Board of Directors.

Shareholders also approved several related-party transactionsrelated to the
possibility of Mechel OAO becoming obliged to be jointly and vicariously
liable to the banks for the fulfillment of the companies of the same group of
persons to which Mechel OAO belongs of their obligations under the contracts
made by the banks and those companies. The maximum amount of the suretyship in
respect of each borrower shall not exceed 90,000,000,000 rubles (US $2 879 456
358,64*) or the equivalent of this amount in the foreign currency calculated
on the basis of the applicable exchange rate of the Central Bank of the
Russian Federation at the date of the transaction.

* Based upon the Russian Central Bank exchange rate of 31.2559 RUR/$ as of the
date of the Board of Directors' recommendation to the General Shareholders'
Meeting on making a decision on dividend payment (April 30, 2013).

Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of
coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled
products, hardware, heat and electric power. Mechel products are marketed
domestically and internationally.

Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you
to the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
"Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in
our Form 20-F, that could cause the actual results to differ materially from
those contained in our projections or forward-looking statements, including,
among others, the achievement of anticipated levels of profitability, growth,
cost and synergy of our recent acquisitions, the impact of competitive
pricing, the ability to obtain necessary regulatory approvals and licenses,
the impact of developments in the Russian economic, political and legal
environment, volatility in stock markets or in the price of our shares or
ADRs, financial risk management and the impact of general business and global
economic conditions.

CONTACT: Mechel OAO
         Elena Andreyeva
         Tel: + 7 495 221 88 88
         Elena.andreeva01@mechel.com

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